Signature Bank (NASDAQ:SBNY) – Equities researchers at FIG Partners boosted their Q4 2018 earnings per share (EPS) estimates for Signature Bank in a research report issued on Thursday, October 18th. FIG Partners analyst D. Bishop now expects that the bank will post earnings of $2.92 per share for the quarter, up from their previous forecast of $2.86. FIG Partners also issued estimates for Signature Bank’s Q3 2019 earnings at $2.93 EPS, Q4 2019 earnings at $3.03 EPS, FY2019 earnings at $11.58 EPS, Q1 2020 earnings at $2.97 EPS, Q2 2020 earnings at $3.04 EPS, Q3 2020 earnings at $3.19 EPS and FY2020 earnings at $12.49 EPS.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, October 18th. The bank reported $2.84 EPS for the quarter, topping the consensus estimate of $2.83 by $0.01. The firm had revenue of $329.34 million during the quarter, compared to analysts’ expectations of $331.77 million. Signature Bank had a return on equity of 14.34% and a net margin of 27.66%. Signature Bank’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $2.29 earnings per share.
A number of other research analysts have also recently issued reports on the company. ValuEngine raised Signature Bank from a “strong sell” rating to a “sell” rating in a report on Friday, September 14th. Wells Fargo & Co reissued a “buy” rating and set a $135.00 price objective on shares of Signature Bank in a report on Monday, October 1st. Morgan Stanley cut their price objective on Signature Bank from $155.00 to $145.00 and set an “equal weight” rating for the company in a report on Tuesday, July 24th. BidaskClub raised Signature Bank from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Finally, Hovde Group raised Signature Bank from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $144.00 to $133.00 in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $145.00.
Shares of NASDAQ SBNY opened at $107.82 on Monday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.94 and a beta of 1.02. Signature Bank has a 52-week low of $106.39 and a 52-week high of $161.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.95.
Several large investors have recently made changes to their positions in SBNY. Endurance Wealth Management Inc. acquired a new stake in shares of Signature Bank in the second quarter valued at $128,000. Qube Research & Technologies Ltd acquired a new stake in shares of Signature Bank in the second quarter valued at $132,000. Zions Bancorporation acquired a new stake in shares of Signature Bank in the second quarter valued at $160,000. Cerebellum GP LLC increased its stake in shares of Signature Bank by 1,408.6% in the third quarter. Cerebellum GP LLC now owns 1,584 shares of the bank’s stock valued at $182,000 after buying an additional 1,479 shares in the last quarter. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Signature Bank in the third quarter valued at $256,000. Institutional investors own 95.42% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.08%. Signature Bank’s dividend payout ratio (DPR) is presently 25.14%.
Signature Bank Company Profile
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
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